USDA Boxed Beef Cutout Midday Prices for September 3

This table details boxed beef cutout prices supplied daily by the U.S. Department of Agriculture. Prices and loads traded are as of 11:30 a.m. U.S. central time.

Prices are determined from cuts in dollars a hundredweight and vary between higher-quality choice cuts and select beef cuts for sale f.o.b. Omaha, Nebraska.

CHOICE SELECT

600-900 600-900 ------------------------------------------------------------------------------- Current Cutout Values: 247.86 234.65 Change from prior day: 1.75 0.82 ------------------------------------------------------------------------------- Choice/Select spread: 13.21

Total Load Count (Cuts, Trimmings, Grids): 162 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 352.83 307.44

Primal Chuck 218.42 214.50

Primal Round 217.52 218.51

Primal Loin 313.85 281.16

Primal Brisket 200.32 198.33

Primal Short Plate 183.09 183.09

Primal Flank 139.79 138.30 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/02 98 64 22 28 212 246.11 233.83 08/29 132 72 28 18 250 246.30 234.39 08/28 86 59 17 18 180 246.89 235.27 08/27 116 62 24 30 232 247.41 237.60 08/26 79 59 22 23 184 248.48 238.48 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 247.04 235.91 -------------------------------------------------------------------------------- NATIONAL BOXED BEEF CUTS - NEGOTIATED SALES FOB Plant basis negotiated sales for delivery within 0-21 day period. Prior days sales after 1:30pm are included.

CURRENT VOLUME - (one load equals 40,000 pounds)

Choice Cuts 76.35 loads 3,053,943 pounds

Select Cuts 56.74 loads 2,269,694 pounds

Trimmings 4.58 loads 183,230 pounds

Ground Beef 24.81 load 992,222 pounds ------------------------------------------------------------------------------- Choice Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

rades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 21 20,719 600.00 692.00 654.53 112A 3 Rib, ribeye, bnls, light 29 305,015 700.00 862.00 747.33 112A 3 Rib, ribeye, bnls, heavy 35 98,057 690.00 760.00 710.52 113C 1 Chuck, semi-bnls, neck/off 7 26,075 252.00 281.50 257.83 114 1 Chuck, shoulder clod 9 38,644 259.12 275.00 264.41 114A 3 Chuck, shoulder clod, trmd 23 53,002 269.12 282.00 273.98 114D 3 Chuck, clod, top blade 4 5,365 390.00 395.00 394.75 114E 3 Chuck, clod, arm roast 6 23,826 290.00 315.00 299.03 114F 5 Chuck, clod tender (IM) 5 1,984 450.00 480.00 457.38 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 52 219,229 304.00 340.00 316.31 116B 1 Chuck, chuck tender (IM) 9 8,817 294.00 320.00 305.90

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 87,632 292.22 315.00 303.20 120A 3 Brisket, point/off, bnls 7 5,501 567.00 570.00 569.37 123A 3 Short Plate, short rib 16 23,057 525.79 567.00 553.80 130 4 Chuck, short rib 25 35,956 336.00 389.00 360.25 160 1 Round, bone-in 4 5,881 282.00 295.00 289.20 161 1 Round, boneless 3 2,436 292.00 305.00 293.44

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 33 114,978 282.00 312.70 295.70 168 1 Round, top inside round 34 401,972 268.00 290.00 270.89 168 3 Round, top inside round 32 285,721 273.00 326.00 280.23 169 5 Round, top inside, denuded 10 34,517 325.00 341.00 327.72

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 41 168,475 265.00 294.00 270.53 171C 3 Round, eye of round (IM) 40 77,442 289.21 327.05 300.19 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 17 28,944 564.40 610.00 587.16 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 12,431 535.00 584.00 562.39 180 3 Loin, strip, bnls, 0x1 38 113,170 566.00 660.00 600.66 184 1 Loin, top butt, bnls, heavy 15 12,738 320.00 346.00 325.58 184 3 Loin, top butt, boneless 43 355,304 323.50 370.00 329.73 185A 4 Loin, bottom sirloin, flap 21 42,360 459.12 536.50 476.05 185B 1 Loin, ball-tip, bnls, heavy 20 113,319 385.00 421.70 392.59 185C 1 Loin, sirloin, tri-tip (IM) 5 2,621 400.00 415.45 407.65 185D 4 Loin, tri-tip, pld (IM) 8 7,503 490.21 554.00 514.98 189A 4 Loin, tndrloin, trmd, heavy 37 53,352 1085.00 1342.00 1279.13 191A 4 Loin, butt tender, trimmed 4 5,079 1138.00 1170.00 1141.74 193 4 Flank, flank steak (IM) 14 14,296 500.00 531.00 516.42 ------------------------------------------------------------------------------- Select Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

Trades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 13 37,217 500.00 532.00 512.52 112A 3 Rib, ribeye, bnls, light 14 122,698 575.00 637.00 590.37 112A 3 Rib, ribeye, bnls, heavy 44 112,100 560.00 644.00 583.44 113C 1 Chuck, semi-bnls, neck/off 11 25,397 250.00 275.00 253.14 114 1 Chuck, shoulder clod 10 43,429 259.12 271.00 261.18 114A 3 Chuck, shoulder clod, trmd 19 118,956 265.00 282.00 270.31 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 2,926 406.00 410.00 409.67 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 186,446 306.00 336.43 315.47 116B 1 Chuck, chuck tender (IM) 11 65,712 290.00 314.00 292.28

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 80,249 289.50 310.00 296.44 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 7 10,680 344.50 380.00 349.74 160 1 Round, bone-in 161 1 Round, boneless 7 8,341 282.00 305.00 296.91

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 22 99,975 294.00 315.00 297.40 168 1 Round, top inside round 16 25,284 269.00 290.00 271.77 168 3 Round, top inside round 16 201,434 270.00 291.00 284.28 169 5 Round, top inside, denuded 5 5,764 325.00 345.50 329.97

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 13,857 240.00 270.00 243.10 171B 3 Round, outside round 20 63,631 265.00 285.00 281.18 171C 3 Round, eye of round (IM) 24 90,972 289.21 310.00 293.26 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 19 34,651 450.82 526.00 469.22 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 24 122,914 462.45 520.00 471.65 184 1 Loin, top butt, bnls, heavy 5 3,575 300.00 311.00 302.69 184 3 Loin, top butt, boneless 39 442,700 295.00 331.52 305.43 185A 4 Loin, bottom sirloin, flap 8 83,449 432.77 471.00 435.01 185B 1 Loin, ball-tip, bnls, heavy 15 64,532 388.00 400.00 395.79 185C 1 Loin, sirloin, tri-tip (IM) 6 12,725 380.00 390.00 386.00 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 20 45,605 1040.00 1140.45 1068.38 191A 4 Loin, butt tender, trimmed 4 1,836 983.00 1100.00 997.65 193 4 Flank, flank steak (IM) 6 2,251 480.58 524.79 501.63 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 5,315 115.00 160.00 141.98 121D 4 Plate, Inside Skirt (IM) 16 41,035 390.00 436.50 397.30 121C 4 Plate, Outside Skirt (IM) 5 18,120 524.71 590.00 540.62 121E 6 Outside Skirt, pld (IM) 7 13,230 835.00 910.00 841.92

Cap, Wedge Meat & (IM) Lean 32 85,139 360.00 380.00 367.62

Pectoral Meat 18 97,047 374.00 400.00 393.46 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 30 166,418 240.00 258.00 242.93 Ground Beef 75% Ground Beef 81% 49 141,466 254.97 280.00 257.77 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 24 57,048 332.00 350.00 346.32 Ground Beef Chuck 80% 25 85,999 259.02 295.00 279.03 Ground Beef Round 85% 34 185,013 307.00 312.00 311.23 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% Blended Ground Beef 81% 15 87,906 256.80 287.00 260.13 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 4 144,251 132.28 135.00 132.94 Frozen 50% lean trimmings -------------------------------------------------------------------------------- FAT LIMITATIONS (FL) DESCRIPTION Maximum Average Fat Thickness Maximum Fat at any point 1. 3/4" (19mm) 1.0" 2. 1/4" (6mm) 1/2" 3. 1/8" (3mm) 1/4" 4. Practically free (75% surface lean exposed) 1/8" 5. Peeled/Denuded 1/8" 6. Peeled/Denuded, surface membrane removed 1/8" -------------------------------------------------------------------------------- Items that have no entries indicate there were trades but not reportable because they did not meet the daily 3/70/20 guideline. Please refer to weekly LM_XB459 as the item may qualify. --------------------------------------------------------------------------------

A cutout value is an average of the prices tallied for cuts of beef from cattle carcasses weighing 550-850 pounds. Cutout values are separated into three main product types. Fabricated loads are beef cuts taken from an animal's ribs, chuck, round, loin, brisket, short plate and flank; 50 percent loads are 50 percent lean beef trimmings. Ground loads may contain 73, 75, or 80 percent ground beef. A typical refrigerated truckload carries 40,000 pounds.

Choice 1-3 grade is a better grade than Select 1-3, partly because Choice cuts have more fat, or marbling, than Select cuts.

Grade quality is determined using a 1-5 yield grade scale. A rating of 1 is the highest ratio of muscle to fat, while 5 is the lowest. Marbling is an important flavor factor.

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